Wall Street analysts forecast that Washington Prime Group Inc. (NYSE:WPG) will announce sales of $191.09 million for the current quarter, according to Zacks. Two analysts have made estimates for Washington Prime Group’s earnings, with the highest sales estimate coming in at $191.38 million and the lowest estimate coming in at $190.80 million. Washington Prime Group reported sales of $209.92 million during the same quarter last year, which would suggest a negative year over year growth rate of 9%. The company is scheduled to announce its next earnings results on Wednesday, November 1st.

According to Zacks, analysts expect that Washington Prime Group will report full-year sales of $191.09 million for the current financial year, with estimates ranging from $779.59 million to $780.20 million. For the next year, analysts expect that the firm will report sales of $773.55 million per share, with estimates ranging from $749.40 million to $797.69 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Washington Prime Group.

Washington Prime Group (NYSE:WPG) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.06. Washington Prime Group had a net margin of 22.65% and a return on equity of 17.36%. The firm had revenue of $189.17 million during the quarter, compared to the consensus estimate of $197.69 million. During the same period in the previous year, the firm posted $0.45 earnings per share. The business’s revenue was down 8.1% compared to the same quarter last year.

Several research firms have recently commented on WPG. TheStreet raised shares of Washington Prime Group from a “d+” rating to a “c” rating in a research report on Wednesday, July 26th. Zacks Investment Research raised shares of Washington Prime Group from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a research report on Wednesday, May 10th. ValuEngine cut shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. BidaskClub raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Washington Prime Group in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Washington Prime Group has an average rating of “Hold” and an average target price of $9.25.

Hedge funds and other institutional investors have recently modified their holdings of the company. Koch Industries Inc. acquired a new position in shares of Washington Prime Group during the second quarter valued at about $348,000. The Manufacturers Life Insurance Company raised its position in shares of Washington Prime Group by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 411,486 shares of the real estate investment trust’s stock valued at $3,444,000 after buying an additional 6,089 shares during the last quarter. State Street Corp raised its position in shares of Washington Prime Group by 3.3% in the second quarter. State Street Corp now owns 8,845,817 shares of the real estate investment trust’s stock valued at $74,044,000 after buying an additional 279,626 shares during the last quarter. Fairholme Capital Management LLC raised its position in shares of Washington Prime Group by 291.0% in the second quarter. Fairholme Capital Management LLC now owns 1,331,300 shares of the real estate investment trust’s stock valued at $11,143,000 after buying an additional 990,800 shares during the last quarter. Finally, Shelton Capital Management acquired a new position in shares of Washington Prime Group during the second quarter valued at about $111,000. Institutional investors own 95.27% of the company’s stock.

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Shares of Washington Prime Group (NYSE WPG) opened at 8.70 on Wednesday. Washington Prime Group has a 1-year low of $7.31 and a 1-year high of $14.15. The company has a market capitalization of $1.62 billion, a P/E ratio of 9.46 and a beta of 0.95. The firm has a 50-day moving average of $8.79 and a 200 day moving average of $8.66.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.00 annualized dividend and a dividend yield of 11.49%. Washington Prime Group’s payout ratio is 108.70%.

Washington Prime Group Company Profile

Washington Prime Group Inc (WPG Inc), formerly WP Glimcher Inc, operates as a self-administered and self-managed real estate investment trust (REIT). The Company’s primary business is the ownership, development and management of retail real estate within the United States. The Company owns, develops and manages enclosed retail properties and community centers.

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Earnings History and Estimates for Washington Prime Group (NYSE:WPG)

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